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Credits’ Q3 2020 Report

As the 3rd Quater of 2020 is over, we would like to summarize our achievements in these 3 months. 

Optimization and improvement works were done on Credits protocol in August, this included an update of security, network module, API, changing in REST API, and fixing bugs. More technical details of what exactly was done are available here 

In July we have released 2 additional fintech products in our ecosystem: Credits wallet and CS Crypto. They both are available in the App Store and Google Play. Since the release, 2 further updates were done for Credits’ wallet. Both products are in continuous improvement and more features to be added there in the Q4. The next expected is BTC support in Credits wallet to be added very soon.

Some legal and business news.

In July patents for Credits’ technology have been published and we are waiting to receive them. We designed protocol and the whole ecosystem by ourselves and our products have got unique features. In a highly competitive world of digital services, it is essential to secure exclusive rights for innovation. We did it and we are proud that we have got it now. Please find more details here 

Regulation keeps changing for our industry constantly and as per the news requirements we had to follow to obtain a new European license as per new legal requirements. Announcement here.

Some partnerships news.

We have gone into a collaboration with for developing blockchain-based gaming products, these are the news about it. 

The latest status is that Gaimin has some technical delays from their side and looking to take steps forward in Q4. As soon as we have solid details regarding the progress we’ll share this.

Partnerships for fintech products and our results in Q3:

Credits set agreements on partnership for acquiring in Europe and Russia, and in the final stage for testing before release this into the production. So we expect to make an announcement about this already in Q4.

We optimized internal AML and KYC procedures, we take regulation and security questions very seriously but at the same time, we want to keep it simple for our users. We hope we have reached that goal by this optimization. 

We opened a crypto-friendly bank account to conduct business activities and integrated several liquidity providers, these partnerships will allow us to work quickly and efficiently within the wallets.

We are in a process of opening foreign currency accounts for our users, as soon as we finish testing acquiring and ready going live with it, we will link fiat accounts to our products. Announcement to follow.

The very last and really important for security: we set blockchain transaction monitoring and we are developing an anti-fraud system triggers.

So many things were done in Q3 and some of the targets set are yet in the process, there will be news for each product development as soon as there is an update. 

Our plan for Q4 is more ambitious and we’ll keep you updated! Stay with us!

We appreciate your involvement and attention to Credits’ development and would like to make our communication more open and public. We encourage you to ask us anything you want via our social media channels and TG chats.  Anything else you would like to see within our range of products, please let us know.

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